Читать книгу Driving Eureka! - Doug Hall - Страница 36

Recently, a CEO I know told me: “We’re conservative. We’re slow to change.” Or as another CEO told me: “Doug, I don’t get it. I don’t know how to innovate, my team doesn’t know how to innovate, and, frankly, my customers have never asked us to innovate. Why the focus on innovation?”

If a purpose of your company is to make money, or if a desire of your nonprofit is to survive and sustain, then innovation is your only choice.

Researchers at Georgia Tech have compared companies’ self-reported strategies for success versus the profit margin they realize. As the chart that follows shows, the conclusion is simple—if you want to make more money, innovation is the only strategy. Companies pursuing innovation as their core business strategy realize 50 to 100% higher profit margins than those that pursue “low cost, high quality, fast delivery, or voice of the customer (doing whatever the customer says).”

Basic economic theory predicts these research results. When you offer something that is meaningful and that no one else offers, you have a monopoly, resulting in higher profitability.